REOPENING: Businesses explain their plans and how they're preparing now
Business Insider
Several states are beginning the first phases of reopening and gyms, fitness studios, bowling alleys, and salons are among some of the businesses allowed to open with limited capacity.
Businesses are eager to reopen; half of the companies polled by the small business referral network Alignable said they could get back to work within a month of restrictions ending.
In order to reopen their businesses, entrepreneurs will have to stay on top of local and regional guidelines, update their company policies, take necessary health precautions, and provide ample cleaning and safety supplies.
Business Insider spoke with a business coach and multiple entrepreneurs to learn the best approaches to reopening safely and effectively. They gave us the strategies and checklists they're using.
Subscribe to BI Prime to access these stories and more. Read the original article on Business InsiderHere's the checklist business owners should use when planning to reopen
In order to reopen safely and profitably, business coach Bob Prosen counsels his clients to follow a detailed, seven-part plan to keep your strategy on course as circumstances change rapidly.
Planning for extended hours, lower capacity, more spacing
Once New Yorkers are able to gather again, the founders of The Bronx Night Market plan to cut their max capacity down to 500 to make room for social distancing. They'll also limit the number of vendors to 20, so they can space them 15 feet apart and they'll space seating areas farther apart.
How to get maximum forgiveness on your Paycheck Protection Program loan
Microbusiness consultant DeVan Curry told Business Insider how he not only helped 15 clients land PPP loans but also worked with them to make sure they get maximum forgiveness.
Because at least 75% of a loan must be used for payroll, Curry and his clients have had to get creative about conserving cash. In some cases, that means bartering for goods and services.
The founders of a beverage startup explain the crisis checklist they're using to reevaluate 2020 goals and navigate their business post-coronavirus
The founders of beverage startup Sunwink created a crisis checklist to navigate their priorities during the coronavirus pandemic and prepare for the months ahead.
Their checklist includes how they're conserving cash flow during a time of financial uncertainty and why it's important to over-communicate with their team. They're also prioritizing company culture and their employees' physical and mental health with weekly meditations and herbalism classes.
And if you're still waiting for your state to reopen, there are 6 ways entrepreneurs can make the most of the coronavirus slowdown
Hostel owner Deidre Mathis advises entrepreneurs to keep six months of working capital in the bank for emergencies. She said these months of economic turmoil provide an opportunity to improve your business. She shared her six steps for using this time effectively, from reviewing operating procedures to training staff.
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